Wells Fargo Maintains Underweight on Ballard Power Systems, Lowers Price Target to $3.5
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Praneeth Satish maintains an Underweight rating on Ballard Power Systems (NASDAQ:BLDP) and lowers the price target from $4 to $3.5.
March 12, 2024 | 11:23 am
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Wells Fargo has maintained its Underweight rating on Ballard Power Systems and reduced the price target from $4 to $3.5.
The reduction in price target by a major financial institution like Wells Fargo, especially with an Underweight rating, suggests a bearish outlook on the stock. This could lead to a negative perception among investors, potentially causing a short-term decline in the stock price.
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